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Prada completes acquisition of flashy rival Versace
Italian fashion group Prada announced on Tuesday it had completed its acquisition of smaller rival Versace, announced earlier this year for 1.25 billion euros (now $1.45 billion). Versace's lustre had been waning in recent years, unlike that of the Prada Group, which is in robust health, fuelled by strong sales of its younger Miu Miu Line.
German economy in 'deepest crisis' of post-war era: industry group
Germany's economy is suffering its "deepest crisis" since the aftermath of World War II, an industry group warned Tuesday, calling on Chancellor Friedrich Merz's government to take urgent action to spark a revival.
OECD raises US, eurozone growth targets as world economy 'resilient'
The world economy has been "surprisingly resilient" in the face of adversity this year, the OECD said Tuesday, raising its growth estimates for key economies, notably the US and the eurozone. "The global economy has shown surprising resilience in 2025," the OECD said.
South Korean leader calls for penalties over e-commerce data leak
South Korea's president ordered on Tuesday swift action to penalise those responsible for a major data leak at e-commerce giant Coupang affecting more than 33 million customers. The case follows a major breach at South Korea's largest mobile carrier SK Telecom, which was fined about 134 billion won ($91 million) in August after a cyberattack exposed data on nearly 27 million users.
Samsung unveils first 'special edition' triple-folding phone
Samsung launched its first triple-folding phone on Tuesday, a special-edition product with an eyewatering price tag placing it out of the reach of the average consumer. The triple fold function is not world-first -- China's Huawei beat Samsung to the punch last year with a phone at a similarly exorbitant price.
Apple AI chief leaving as iPhone maker plays catch-up
Apple on Monday said the head of its artificial intelligence team is stepping down, and the effort is to be led by a veteran engineer from Google and Microsoft. Subramanya was most recently a corporate vice president of AI at Microsoft, prior to that spending 16 years at Google where he was head of engineering for the Gemini digital assistant before leaving, Apple said.
Asian markets rise as US rate cut bets temper Japan bond unease
Stocks rose Tuesday following the previous day's stutter as more weak US data helped solidify US interest rate cut optimism and tempered nervousness over rising Japanese bond yields. The remarks boosted the yen and provided a jolt to equities as the yield of Japanese two-year government bonds rose past one percent to their highest since 2008 during the global financial crisis.
Pacific island office enabling sanctions-busting 'shadow fleets'
Dozens of oil tankers suspected of smuggling contraband crude for Russia and Iran have been using a beachside office in the tropical South Pacific to cover their tracks, an AFP analysis of sanctions data has revealed. United States sanctions data identifies 20 tankers registered in the Cook Islands suspected of smuggling Russian and Iranian fuel between 2024 and 2025.
US Supreme Court hears major online music piracy case
The US Supreme Court heard arguments on Monday on whether internet service providers should be held liable for the online pirating of copyrighted music by their users. "That could be entire towns, universities or hospitals, turning internet providers into internet police," he said.
AFP
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